5 Tips for Buying a Brand New Home

New construction is a great choice for buyers who want to be able to have input on the finishes in their home, and that want to have a house that will not need upgrades or major repairs for many years. New home sizes and prices are coming down, and builders are eager to woo buyers with financing deals and quality construction. If you are thinking of buying a home before or while it is constructed, here are 5 tips for you. 
1. Choose a Realtor Who Has New Home Sales Experience  The builders agent or sales rep will not be representing you or your best interests. Everything you tell them will be communicated to the builder, so to make sure you are protected get your own agent, preferably one that has worked with buyers on new construction before. 
2. Carefully Evaluate the Seller’s Lender before Committing  Even though the mortgage interest rate may seem better than any other lender you have met with, be sure to compare the APR, and all fees and terms to make sure you are getting a good deal. Any experienced and qualified builder will let you use your own lender.
3. Check out the Builder’s Reputation Walk around the current and previous developments, and talk with people who live in the homes. Get your agent to call other agents who have worked with the builder to see how the experience was.
4. Hire a Home Inspector Even though the city will have inspectors checking to make sure everything is up to code, hire your own home inspector to look for issues before closing. City inspectors miss things, or the builder or subcontractors may have changed or missed things too. A full home inspection is the best $400 buyers ever spend.
5. Obtain Legal Advice before Buying a Brand New Home Have a real estate attorney look over the contract and addenda if they are not the customary ones used in your state. Anything that seems to good to be true probably is, and it is cheaper to hire an attorney for a few hours now then to go to court later.
Read more new home construction advice here.